bitcoin’s value
Bitcoin’s Value
Vocabulary
| jump | currency | record (3) |
| fund | institution | exchange rate |
| volatile | block (3) | grow/grew/grown |
| broad | chain (2) | application (2) |
| expect | attention | high profile |
| gain | tear (3) | exponential |
| asset | cautious | to be sure (2) |
| crypto- | dark net | anonymous |
Video: Bitcoin’s Value
Transcript
Bitcoin is jumping from record to record-high right now.
There are a few reasons for that. On the one hand, the crypto-currency is now an official payment method in Japan. On the other, there could be a Bitcoin fund coming soon.
The digital currency’s exchange rate is growing exponentially.
In the last two years, Bitcoin has been on a tear: in the summer of 2015, one Bitcoin cost around $250. Today the price is over twenty-five hundred dollars ($2,500).
Anyone who has invested a thousand dollars in Bitcoin in 2010, would today have an investment worth more than $35 million.
Block Chain is the technology behind Bitcoin. Many expect it could have broader applications in industries like financial services.
The digital currency is gaining more attention in the US, especially from high-profile, institutional investors.
To be sure, Bitcoin is a highly volatile asset, and investors remain cautious. The currency for example is also popular with criminals, and the dark-net trade in drugs and stolen credit cards, because it’s anonymous.
Questions
1. Bitcoin is an electronic payment system like Paypal and Skrill. True or false? What is bitcoin?
2. Have its value been increasing?
3. Was Bitcoin a fantastic investment opportunity?
4. Bitcoin is having a growing influence in banking and finance. Is this right or wrong?
5. Has Wall Street taken interest in Bitcoin?
6. Bitcoin is used only for legitimate purposes by anti-establishment individuals. Is this correct or incorrect?
A. I have seen businesses and other establishments that accept Bitcoins. Yes or no?
B. Do you know anyone who has or has used Bitcoins?
C. What do you think of Bitcoin? Would you like to use it?
D. Do some people or institutions oppose Bitcoin? Who are they? Why do they dislike or distrust Bitcoin?
E. What may happen in the future?
